Saturday, February 1, 2014

New Savings Plan

I don't usually post on the weekend,but realized that I had mentioned this ideaand neglected to write up a post about it.It's about a month into the challenge,but early enough that you should be able to play catch up.

Have you heard of the 52-weekmoney savings challenge?

Starting with the first week of the year (okay, so I'm starting a little late),

save the amount of money that matches the week of the year.

Week of January 5th-$1

Week of January 12th-$2

Week of January 19th-$3

etc.

By the end of April, almost $200 will have been saved!By the end of June, the halfway point, about $350 will have been squirreled away!If you are able to put more away, feel free to do so. Kids can participate too,by putting away a dime, nickel or quarter a week.What a great way to get them saving for that inevitable rainy day!

***Update: We completed the challenge with a bit of tweaking.We weren't able to save the full amount as per the plan,but we did manage to squirrel away enough for all of our Christmas gifts. Even that felt very satisfying!